The official added that Romania’s electricity exports plunged 75 percent in 2009, to their lowest level in the past few years, due to the crisis, and this will take another RON 6 mln (€1.4 mln) of the company’s revenues.
“Now, this decline by some 10 percent in electricity consumption means a very high value for us. If our net sales for the whole year are RON 3.7 billion, then this 10 percent means RON 370 million less revenues,” Baicusi said. He added that he noticed a slight rebound in consumption in the past two weeks. “We hope to slightly pick up by the end of this year. We hope the electricity consumption will not fall below 10 percent for the whole of 2009,” Transelectrica’s general manager said.
He further indicated that “exports are one quarter of the level registered one year ago.” “In our exchanges with neighbors, exports amounted to a monthly 500-600 MW last year, and now they are at 150 MW and sometimes at a maximum 175 MW, which shows that the entire region is affected, not just Romania. This decline means RON 6 million less revenues in 2009,” Baicusi added.
Transelectrica is reducing its costs by up to 44 percent, cutting part of the expenses related to IT&C, research, and advertising, but preserves the investment program.
